Which resets first, CBOY or CBXY?

CBOY ends its outcome period on Jul 30, 2027 and CBXY on Jul 30, 2027. A new cap is set the day after each.

Which is cheaper, CBOY or CBXY?

CBOY and CBXY both charge 0.69% a year, so neither is cheaper. Fees come from each fund's prospectus.

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CBOY vs CBXY: Cap, Buffer & Days Left

As of Oct 13, 2026 CBXY can fall 17.9% before its buffer engages and CBOY 3.2%. Net assets on Oct 12, 2026: $5m for Calamos Bitcoin Structured Alt Protection ETF - July and $6m for Calamos Bitcoin 90 Series Structured Alt Protection ETF - July.

Both cost 0.69% a year; their one-year returns differ by 5.9 points; CBXY is 1.2 times larger.

Points (pts) are percentage points.

CBOY vs CBXY: Cap, Buffer & Days Left
	CBOY	CBXY
Expense ratio	0.69%	0.69%
Net assets, as of Oct 12, 2026	$5m	$6m
Total return, 1 year	+0.3%	−5.6%
What it tracks	Bitcoin	Bitcoin
Holdings in common	not published
Index fall to the buffer	25.2%	32.7%

CBOYAt its cap

CBOY: reference +33.5% since period start, fund +3.1%; buffer −0 to floor; cap +9.8%; At its cap. Figures to Oct 13, 2026.

CBXYAt its cap

CBXY: reference +33.5% since period start, fund +9.4%; buffer −10 to floor; cap +23.1%; At its cap. Figures to Oct 13, 2026.

Both are already at their cap, so neither gains from more rise in the index before the period ends.

Both are Calamos funds, so the difference between them is the terms rather than the house.

Where each one stands today

CBOY resets first, on Jul 30, 2027, 290 days from now; CBXY runs to Jul 30, 2027, 290 days. A fall from here reaches CBOY’s buffer after 3.2% and CBXY’s after 17.9%. Both track Bitcoin, so what separates them is where each is in its own period.

Performance, window by window

Performance, window by window: CBOY vs CBXY: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	CBOY	CBXY	CBOY	CBXY
3 months	+3.7%	+10.2%	−29.4 pts	−22.8 pts
6 months	+3.7%	+9.4%	−9.1 pts	−3.5 pts
1 year	+0.3%	−5.6%	+29.4 pts	+23.5 pts
Since launch CBOY Jul 2025 · CBXY Jul 2025	+2.4%	−2.5%	+26.3 pts	+21.5 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Source: ETFIQ. Open this comparison in the app →

On the same fields

CBOY

Calamos Bitcoin Structured Alt Protection ETF - July · Absorbs losses from 0.2% to 100.0% on Bitcoin and caps the gain at 9.8%, over a period ending Jul 30, 2027

CBXY

Calamos Bitcoin 90 Series Structured Alt Protection ETF - July · Absorbs losses from 10.2% to 100.0% on Bitcoin and caps the gain at 23.1%, over a period ending Jul 30, 2027

Issuer Calamos Calamos

Reference index Bitcoin Bitcoin

Buffer 0% to 100% 10% to 100%

Outcome period Jul 8, 2026 to Jul 30, 2027 Jul 8, 2026 to Jul 30, 2027

Days left 290 290

Starting cap +9.8% +23.1%

Can still gain not published not published

Fall before buffer 3.2% 17.9%

Protection left, index points 99.8% of 99.8% 89.8% of 89.8%

Index return this period +33.5% +33.5%

Fund return this period +3.1% +9.4%

State today At cap At cap

Expense ratio 0.69% 0.69%

Net assets, as of Oct 12, 2026 $5m $6m

As of Oct 13, 2026. Source: ETFIQ.

About CBOY

Bitcoin had already risen past this fund's cap of +9.8% for the period on Oct 13, 2026, so in index terms there is no more upside to collect. The fund's price can fall 3.2% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, Bitcoin can fall 25.2% from today's level to the point where the buffer begins. Protection left, in index points: 99.8% of the 99.8% buffer still sits below today's Bitcoin level. 290 days remained on Oct 13, 2026. On Jul 30, 2027 the period ends and a new cap is set.

About CBXY

Bitcoin had already risen past this fund's cap of +23.1% for the period on Oct 13, 2026, so in index terms there is no more upside to collect. The fund's price can fall 17.9% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, Bitcoin can fall 32.7% from today's level to the point where the buffer begins. Protection left, in index points: 89.8% of the 89.8% buffer still sits below today's Bitcoin level.

Questions people ask

Which resets first, CBOY or CBXY?: CBOY ends its outcome period on Jul 30, 2027 and CBXY on Jul 30, 2027. A new cap is set the day after each.
Which is cheaper, CBOY or CBXY?: CBOY and CBXY both charge 0.69% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

CBOY vs CBTY CBXY vs CBTY

All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →CBOY on its own →CBXY on its own →How every figure is computed →Standards and sources →

Where these figures came from

CBOY and CBXY filings on SEC EDGAR ↗CBOY and CBXY prospectus with the expense ratio (SEC) ↗Calamos website ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

ETFIQ calculates every figure from each issuer’s published outcome-period terms. Buffer ETFs hold options on an index, not shares, so there is no holdings overlap to report.

Every figure is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, CBOY against CBXY, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/cboy-vs-cbxy

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.